In this brief review, we will delve into all the features and possibilities that the BinaryCent platform offers. The burning question is whether it will pave the way for you to become a millionaire or if you’ll end up losing your deposit in yet another scam.
- BinaryCent General Information
- Registration and Client Portal Review
- BinaryCent Trading Conditions
- Account Types Review
- Trading Platform
- BinaryCent — Deposit and Withdrawal of Funds
- Additional Options
- Is BinaryCent a Scam?
- Legal Information and License
- Binarycent.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
BinaryCent General Information
|Address||Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960|
|Assets||Binary Options, CFDs|
Registration and Client Portal Review
The BinaryCent website, at first glance, exudes an aura of minimalism. However, beneath this austere façade lies a striking absence of substantial information regarding the broker and its services. The website’s content offers only a cursory overview of the various account types available. To access a more comprehensive understanding of the range of options offered, users are directed to navigate through their account dashboard.
In the realm of design, BinaryCent’s website leaves much to be desired. Its lackluster background and the conspicuous absence of distinctive visual elements contribute to a lackluster user experience. It’s almost as if the website were trying to be inconspicuous to a fault. It fails to make any lasting impression.
The registration process at BinaryCent is incredibly simple, to the point where some might argue it’s overly so. Essentially, clients are only asked to complete a brief form, which consists of providing an email address and creating a password. Once this basic information is entered, they gain instant access to their personal dashboard. What’s surprising, and potentially alarming from a security perspective, is the absence of verification codes or additional security measures.
Turning our attention to the Client Portal, it’s important to note that BinaryCent has merged it with the trading platform, creating a unified interface. Within this unified space, users will encounter the typical features and functions commonly associated with such dashboards. For individuals already familiar with online trading, navigating the platform should be relatively straightforward.
BinaryCent Trading Conditions
Now, let’s explore what this broker has to offer.
Account Types Review
Like many others in the industry, BinaryCent provides a range of account types.
- Bronze. This entry-level account requires a minimum deposit of $250. Traders enjoy a 20% deposit bonus, enhancing their initial investment. Additionally, they gain access to features like expedited withdrawal processing, video chat support, and a selection of copy trading tools to help them.
- Silver. Stepping up, the Silver Account demands a minimum deposit of $1,000. With this account, traders unlock more advanced benefits, including educational masterclasses to refine their trading skills. Another perk is the availability of three risk-free trades, allowing traders to experiment and learn without the worry of losing their invested capital.
- Gold. For traders with a more substantial investment appetite, the Gold Account awaits, necessitating a deposit of $3,000. Alongside all the advantages offered by the Bronze and Silver accounts, Gold Account holders receive a dedicated personal success manager.
However, it’s crucial to remain vigilant about potential disparities between the trading conditions as advertised on the website and the actual experiences within the platform. For instance, while the website states that Bronze Account withdrawals are processed within one hour, the Client Portal suggests an 8-hour timeframe. Return on investment for options fluctuates between 60% and, primarily, 95%. Notably, the website claims the potential for a staggering 98% profit in just 5 seconds. However, it’s essential to remember that the minimum trading timeframe on the platform is 1 minute, potentially diverging from the website’s claims.
We were also quite surprised to find the option of CFD trading in the personal dashboard. Of course, the variety of assets there is not impressive, but it’s worth a try as an alternative. Moreover, this next-door terminal is more convenient to use for analysis.
When it comes to BinaryCent’s trading platform, it’s clear that they’ve opted for a straightforward and no-frills approach. This simplicity might have its appeal for some traders who prefer a no-nonsense interface. However, for those seeking innovation, unique design elements, or advanced trading features, this platform falls short of expectations.
Binary options trading platforms, as a whole, tend to share a common design philosophy. They prioritize ease of use and accessibility for traders of all levels. However, the flip side of this simplicity is the lack of creativity and individuality. It’s like a sea of similar-looking platforms in the industry, where distinguishing one from the other becomes a challenge.
BinaryCent — Deposit and Withdrawal of Funds
BinaryCent presents traders with a variety of choices for funding their trading accounts. You have the flexibility to make deposits using major credit or debit cards, specifically Visa and MasterCard. In addition to traditional payment methods, BinaryCent embraces cryptocurrency deposits, including popular options like Bitcoin and Ethereum, as well as a range of alternative cryptocurrencies.
When it comes to cashing out your hard-earned profits, BinaryCent extends the same options. Nevertheless, it’s vital to be aware of a 5% fee linked to withdrawals to your bank card. Conversely, opting for cryptocurrency withdrawals does not incur any fees.
Within the user’s dedicated portal lies a crucial step known as the verification process. This procedure serves a main role in ensuring the security and legitimacy of user accounts. To successfully complete this process, users are prompted to furnish their full date of birth and provide scanned copies of official identification documents. These documents include government-issued identification, such as a passport or driver’s license. The purpose of this stringent verification process is to adhere to industry-standard compliance measures widely recognized as “Know Your Customer” (KYC) requirements.
Within BinaryCent’s platform, there exists a rather enticing offering called TurboSavings, which boasts the potential for impressive returns, touting figures as high as 128%. This alluring proposition comes with the promise of daily payouts and near-instant withdrawals, seemingly creating the allure of a virtually effortless source of passive income. However, lurking beneath this enticing surface lies a fundamental lack of transparency regarding the mechanisms responsible for generating these remarkable profits.
The primary concern arises from BinaryCent’s vague explanation of how these substantial returns are achieved and sustained. Such ambiguity inevitably raises questions about the sustainability and legitimacy of the platform’s operations. The opacity surrounding the origins of these profits can be likened to the elusive nature of financial pyramids, where the inner workings are concealed, leaving participants in the dark about the actual source of their earnings.
Is BinaryCent a Scam?
Now, let’s embark on a comprehensive exploration of the BinaryCent legality and operational framework.
Legal Information and License
BinaryCent asserts its registration in the offshore jurisdiction of the Marshall Islands, a move that affords them the luxury of operating with significantly fewer regulatory constraints and oversight compared to more established and rigorously monitored financial markets.
However, delving deeper into this situation reveals even more concerning aspects. The managing entity linked to BinaryCent, namely Wawe Markets LTD, no longer holds valid legal registration status in the Marshall Islands. This particular revelation serves as a stark indicator that BinaryCent is currently operating without any formal registration in place, a situation exacerbated by the conspicuous absence of any licensing credentials for this broker.
Binarycent.com Domain Info
BinaryCent has been in operation for an extended period. A scrutiny of its website’s inception through a Whois service examination indicates that it came into existence back in 2016, with its official launch following shortly thereafter in 2017.
BinaryCent offers various means of communication to reach out to them, catering to clients across different jurisdictions. You can find contact numbers provided for distinct regions, ensuring accessibility. Additionally, you have the option to compose an email message. However, it’s worth emphasizing that we wouldn’t recommend physically visiting an office, as BinaryCent, lacking legal registration, does not maintain any physical office locations. Instead, you can engage with them via a live chat feature for prompt assistance.
Pros and Cons
- User-friendly registration.
- Low minimum deposit.
- Lackluster website design.
- No official registration.
- Negative reviews.
- Ambiguity in trading conditions.
- High-risk investments.
Frequently Asked Questions (FAQ)
It offers a platform for trading binary options and CFDs.
According to the broker’s trading conditions, the minimum deposit required to start trading is $250.
No, it is not a safe broker. It operates without proper legal registration and lacks the necessary licenses. This raises concerns about the safety and legitimacy of the platform for binary options trading.